Dublin, June 20, 2023 (GLOBE NEWSWIRE) -- The "Global Tourniquet Systems Market 2023-2028 by Component, Applications, End-User, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Tourniquet Systems Market is estimated to be USD 685.32 Mn in 2023 and is expected to reach USD 1002.31 Mn by 2028, growing at a CAGR of 7.9%.
Tourniquet systems are devices that are to use surgical procedures to achieve and maintain a bloodless field in the upper and lower extremities. Tourniquet systems have a wide range of applications owing to their advantages that are helpful in various emergencies and life-threatening limb hemorrhages with multiple bleeding points, reconstructive procedures, and cosmetic, and orthopedic surgeries.
The increasing number of trauma and accident cases is one of the key drivers. Trauma and accidents result in significant bleeding, and tourniquets are essential in controlling and halting bleeding in such cases. The increasing number of traumatic injuries and accidents around the world necessitates the use of tourniquet systems to provide immediate and effective hemorrhage control.
Because of technological improvements in this industry, the tourniquet systems market offers potential. Integration of electronic sensors, pneumatic designs, and automated pressure control mechanisms improve tourniquet system accuracy, safety, and convenience of use. These technology developments improve overall performance and patient experience, hence creating the opportunity for market growth.
The potential transfer of infectious diseases connected with the increased usage of reusable cuffs is one of the market limitations for tourniquet devices. If not properly sterilized, reusable cuffs constitute a source of infection transmission. To reduce the danger of infection transmission, strict sterilization techniques and the development of disposable or single-use cuff solutions are required.
The shortage of competent experts is a serious barrier in the tourniquet systems market. To provide optimal outcomes and minimize potential consequences, tourniquet systems must be applied and used correctly. Proper training and competence are necessary. The scarcity of competent individuals, such as healthcare practitioners and emergency responders, can restrict the proper use of tourniquet systems, stifling market expansion.
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the Global Tourniquet Systems Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
The analyst analyses the Global Tourniquet Systems Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, The analyst has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Tourniquet Systems Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
- Excel data sheet for the market size will also be provided with the report.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
- The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
- The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 126 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $685.32 Million |
| Forecasted Market Value (USD) by 2028 | $1002.31 Million |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Rise in Geriatric Population
- Increasing Number of Trauma and Accident Cases
- Rising Number of Joint Replacement Surgeries
Restraints
- Transmission of Infectious Diseases Associated with Increasing Use of Reusable Cuffs
Opportunities
- Growing Technological Advancements in Tourniquet Systems
- Increasing Prevalence of Degenerative Bone Disorders & Musculoskeletal Disease
Challenges
- Lack of Skilled Professionals
Companies Mentioned
- Anetic Aid Ltd.
- C.A.T Resources, LLC
- Changzhou Yanling Electronic Equipment Co., Ltd.
- Clarion UX
- Combat Ready Medical
- Delfi Medical Innovations, Inc.
- Dessillons & Dutrillaux
- Hammarplast Medical AB
- Huaxin Medical Equipment Factory
- OHK Medical Devices
- Pyng Medical
- Recon Medical
- Rudolf Riester GmbH
- Sam Medical
- Stryker Corp.
- Tacmed Solutions
- TacMedUSA
- Tourniquet Systems LLC
- Ulrich GmbH & Co. KG
- VBM Medizintechnik GmbH
- Zimmer Biomet Holdings, Inc.
Market Segmentations
The Global Tourniquet Systems Market is segmented based on Component, Application, End-User, and Geography.
- By Component, the market is classified into Tourniquet Instruments, Tourniquet Cuffs, and Tourniquet Accessories.
Tourniquet cuffs hold the largest share of the market Because of their rising applications in orthopedics, trauma, and emergencies. Tourniquet cuffs are also available in a variety of sizes, allowing them to be employed in a variety of orthopedic operations.
- By Application, the market is classified into Upper Limb and Lower Limb.
The lower limb accounted for a major market share. The rising prevalence of orthopedic operations is expected to boost product demand. According to NCBI, over 2.6 million people worldwide will get knee replacement surgery in 2021. This incidence rate is expected to rise because of factors such as an aging population, degenerative bone disease, and an increase in trauma cases, among others.
- By End-User, the market is classified into Hospitals, Surgical Care Centers, and Non-institutional Use.
The hospital segment accounted for more revenue share. Tourniquet systems are widely utilized as an important technique in the therapy of life-threatening external hemorrhage caused by lower limb injuries.
- By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific.
Americas dominated the tourniquet industry with the largest revenue share. This region's supremacy is mostly due to variables such as a well-established healthcare infrastructure, a huge target population, and a high acceptance rate of technologically advanced solutions. For instance, according to the World Health Organization, about 28-35% of people aged 65 and over fall each year increasing to 32-42% for those over 70 years of age resulting in higher demand for the tourniquet systems fueling the market in the region.
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